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Sep 12, 2011
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caller: the man before me that said warren buffett did not pay less was wrong, because warren buffett was talking about specifically capital gains, not corporate taxes. i also did it taxes. i saw what the capital gains tax rate was for everyone. it is no different for a poor person than it is a rich person. a poor person can sell their house and get capital gains. they pay the same low rate that warren buffett pace on all of his investments. corporate taxes are a different breed altogether. also, the fact is that as a percentage, if we take herman unfair999 plan, that is to the poor, because the poor spend their money dialy. they buy things -- daily. they buy things with a sales tax. the rich do not buy things with a sales tax. . they do massive investment in stuff, and they do not buy as a percentage of their in come quite as many products as we do. we as poor people, the working poor. my husband makes less and $50,000 a year. we are not eligible for anything other than a regular tax rate. we pay a high tax rate. that is compared to the capital gains rate. host: how would you like to
caller: the man before me that said warren buffett did not pay less was wrong, because warren buffett was talking about specifically capital gains, not corporate taxes. i also did it taxes. i saw what the capital gains tax rate was for everyone. it is no different for a poor person than it is a rich person. a poor person can sell their house and get capital gains. they pay the same low rate that warren buffett pace on all of his investments. corporate taxes are a different breed altogether....
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Sep 12, 2011
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caller: the man before me that said warren buffett did not pay less was wrong, because warren buffett was talking about specifically capital gains, not corporate taxes. i also did it taxes. i saw what the capital gains tax rate was for everyone. it is no different for a poor person than it is a rich person. a poor person can sell their house and get capital gains. they pay the same low rate that warren buffett pace on all of his investments. corporate taxes are a different breed altogether. also, the fact is that as a percentage, if we take herman unfair999 plan, that is to the poor, because the poor spend their money dialy. they buy things -- daily. they buy things with a sales tax. the rich do not buy things with a sales tax. . they do massive investment in stuff, and they do not buy as a percentage of their in come quite as many products as we do. we as poor people, the working poor. my husband makes less and $50,000 a year. we are not eligible for anything other than a regular tax rate. we pay a high tax rate. that is compared to the capital gains rate. host: how would you like to
caller: the man before me that said warren buffett did not pay less was wrong, because warren buffett was talking about specifically capital gains, not corporate taxes. i also did it taxes. i saw what the capital gains tax rate was for everyone. it is no different for a poor person than it is a rich person. a poor person can sell their house and get capital gains. they pay the same low rate that warren buffett pace on all of his investments. corporate taxes are a different breed altogether....
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Sep 19, 2011
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if you want to talk about warren buffett -- first of all, warren buffett, doesn't he owes something like $8 billion in back taxes and then he talked about the difference between his income and his secretary's, it could -- but it is a misnomer is his capital gains tax, he already paid income taxes. comparing that to his secretary -- who is paying straight income taxes. there is a huge difference between wealth generation taxation and income tax generation. there are so many myths flying around and i think people need to educate themselves before they start spouting off at the mouth. host: thank you, a young member. a warren buffett photo in "the wall street journal" today. his april annual meeting. the headline says -- millionaire tax to be a tough sell. the next caller -- syracuse, new york. don, republican. caller: good morning. i would just like to say that, you know, we need to start actually voting our interests. when you see their ads -- say that there is a class warfare and you are not the class you are talking about and defending, it does not make any sense. if you are making less
if you want to talk about warren buffett -- first of all, warren buffett, doesn't he owes something like $8 billion in back taxes and then he talked about the difference between his income and his secretary's, it could -- but it is a misnomer is his capital gains tax, he already paid income taxes. comparing that to his secretary -- who is paying straight income taxes. there is a huge difference between wealth generation taxation and income tax generation. there are so many myths flying around...
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Sep 18, 2011
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the issue of the warren buffett tax for millionaires. caller: afe couple of statements that i would like to say. one, i would like to say thank you, nick, the caller previously for stating out the caller before him about obama's tenure as the president so far. because a lot of us around the country believe in those statements rather than the other caller saying that democrats are lazy. that's a bigotted statement. number one, c-span put the building behind you for a reason. symbolizes that we work on what our problems all the time. if that building crumb bles, we're going to have a problem. that building is over 100 years old. it's going to crumble if we do not start and take our taxes and start to spend them in the correct way all of our buildings around us are going to look like somebody took a bite out of them. i come from the urban setting and we have a little joke in our way -- in our livelihood where we say what's the difference between an alcoholic and a crack head? well, the alcoholic he will steal from you and then he will lie t
the issue of the warren buffett tax for millionaires. caller: afe couple of statements that i would like to say. one, i would like to say thank you, nick, the caller previously for stating out the caller before him about obama's tenure as the president so far. because a lot of us around the country believe in those statements rather than the other caller saying that democrats are lazy. that's a bigotted statement. number one, c-span put the building behind you for a reason. symbolizes that we...
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Sep 25, 2011
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[laughter] warren buffett's exactly shouldn't pay a higher tax rate than warren buffett. a teach ear nurse or a construction worker making $50,000 a year shouldn't pay higher tax rates than somebody making $50 million. that's just common sense. [applause] we're not doing this to punish success. this is the land of opportunity. i want to you go out, start a business. get rich. build something. our kins based on the belief that anybody can make it if they put in enough sweat and enough effort. that is wonderful. god bless you. but part of the american idea is also that once we've done well, we should pay our fair share. [applause] to make sure that those schools that we were learning in can teach the next generation. that those roads that we benefited from that they're not crumbling for the next bunch of folks who are coming behind us. to keep up the nation that made our success possible. and most wealthy americans would agree with that. but, you know, the americans are already dusting off their old talking points. that's a class warfare, they say. in fact, in the next brea
[laughter] warren buffett's exactly shouldn't pay a higher tax rate than warren buffett. a teach ear nurse or a construction worker making $50,000 a year shouldn't pay higher tax rates than somebody making $50 million. that's just common sense. [applause] we're not doing this to punish success. this is the land of opportunity. i want to you go out, start a business. get rich. build something. our kins based on the belief that anybody can make it if they put in enough sweat and enough effort....
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Sep 20, 2011
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warren buffett's secretary should not pay a higher tax rate than warren buffett. there is no justification for it. it is wrong that in the united states of america, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million. anybody who says we cannot change the tax code to correct that, anyone who has signed some pledge to protect every single tax loophole so long as they live, they should be called out. they should have to defend that unfairness -- explain why somebody who's making $50 million a year in the financial markets should be paying 15% on their taxes, when teacher making $50,000 a year is paying more than that -- paying a higher rate. they ought to have to answer for it. and if they are pledged to keep that kind of unfairness in place, they should remember, the last time i checked the only pledge that really matters is the pledge we take to uphold the constitution. now, we are already hearing the usual defenders of these kinds of loopholes saying this is just "class warfare." i rejec
warren buffett's secretary should not pay a higher tax rate than warren buffett. there is no justification for it. it is wrong that in the united states of america, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million. anybody who says we cannot change the tax code to correct that, anyone who has signed some pledge to protect every single tax loophole so long as they live, they should be called out. they should have to...
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Sep 15, 2011
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warren buffett -- the caller raised the warren buffett comment. in general, that is nonsense. that might be true for warren buffett in particular. if you look at the overall data from the congressional budget office in terms of overall federal taxes paid, the top one% in the country pays a 30% tax rates. in other words, add up all of the taxes, the top one% pace 30%. look at the middle of the spectrum. they pay about 14%, according to the cbo. the tax rate at the top and are much higher than people in the middle and the bottom. there are exceptions, but those are the overall averages. host: let's give it $3.40 trillion in tax rates to the top 400 families and keep our fingers crossed? caller: again, i disagree with michael. people at the top end are the most productive, the most skilled and most knowledgeable. you're talking about surgeons and people like that. they already worked enormously hard to in the ad an enormous amount to the economy and create jobs. they already pay a higher burden on other people. i think it is costly for the economy to burden them with additional t
warren buffett -- the caller raised the warren buffett comment. in general, that is nonsense. that might be true for warren buffett in particular. if you look at the overall data from the congressional budget office in terms of overall federal taxes paid, the top one% in the country pays a 30% tax rates. in other words, add up all of the taxes, the top one% pace 30%. look at the middle of the spectrum. they pay about 14%, according to the cbo. the tax rate at the top and are much higher than...
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Sep 25, 2011
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buffett's secretary should not be paying a higher tax rate than warren buffett. it's a simple principle. [applause] in the united states of america, a teacher, nurse or construction worker makes $50,000 a year should not pay a higher tax rate than someone pulling in $50 million. it is not fair, it is not right, and it has to change and a vast majority of americans agree it has to change. [applause] nobody wants to punish success. that's what you hear when they tried to respond. to what should be some pretty obvious logic. nobody wants to punish success in america. that's what's great in america -- the belief that anybody can make it if you try. anyone can open a business, have a great idea and make millions, make billions, as the land of opportunity. it's why people came to new york. all i am saying is that those who've done well, including the majority of people here tonight, we should pay our fair share in taxes and contribute to the nation that made our success possible and pass it on. [applause] pass on opportunity. i think most wealthy americans would agree
buffett's secretary should not be paying a higher tax rate than warren buffett. it's a simple principle. [applause] in the united states of america, a teacher, nurse or construction worker makes $50,000 a year should not pay a higher tax rate than someone pulling in $50 million. it is not fair, it is not right, and it has to change and a vast majority of americans agree it has to change. [applause] nobody wants to punish success. that's what you hear when they tried to respond. to what should...
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Sep 24, 2011
09/11
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what i care about is the next warren buffett. the next bill gates, steve jobs, the next michael del. the person who will create the next great product and make our lives better with a new product and hire more people. when we raise tax rates, we make it less likely that that entrepreneur will get started and get going and achieve that success. i am more concerned about more americans reaching the success that the rich now enjoy. when you raise the capital gains rate which is the president might be talking about, you are making that hurdle rate much higher. host: $866 billion was expected to allow president bush's tax cuts to expire. $410 billion to reduce tax deductions for those earning more than $250,000. $52 billion repeal on an accounting method. west virginia, go ahead please. our republican line. caller: i would just like to say that i think it is a myth that you guys talk about raising taxes on the rich because they already pay more than their fair share. probably 56% of the people in the united states pay no taxes, 45% of
what i care about is the next warren buffett. the next bill gates, steve jobs, the next michael del. the person who will create the next great product and make our lives better with a new product and hire more people. when we raise tax rates, we make it less likely that that entrepreneur will get started and get going and achieve that success. i am more concerned about more americans reaching the success that the rich now enjoy. when you raise the capital gains rate which is the president might...
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Sep 30, 2011
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not only does warren buffett's strongly agree with this but most americans agree. we have gathered figures about what we estimate based on data. those numbers may not reflect our numbers. a principal is a principle. >> is a lot higher, as high as 400,000? >> we would have to get good numbers. >> can you talk about the role that the yemen government plays [unintelligible] in? >> i will not get into the circumstances of his death. it has been an objective of this administration and the prior one but this one in particular that we were to have that cooperation because of the threat that al qaeda has in the arabian peninsula. through that unrest, that has been an issue because of the need to continue that cooperation that the unrest adversely affected that and it continues today. >> yes? >> do you think the income of a millionaire ballplayers should be affected by the new tax code? >> i don't know about that. having a larger payroll does not translate into the larger picture. >speaking of a bad headline -- sorry. >> the president is doing a lot of fundraising. what has
not only does warren buffett's strongly agree with this but most americans agree. we have gathered figures about what we estimate based on data. those numbers may not reflect our numbers. a principal is a principle. >> is a lot higher, as high as 400,000? >> we would have to get good numbers. >> can you talk about the role that the yemen government plays [unintelligible] in? >> i will not get into the circumstances of his death. it has been an objective of this...
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Sep 8, 2011
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right now warren buffett pays a lower tax rate than a secretary. it is an outrage he has asked us to fix. we need a tax code where everyone gets a fair shake and where everybody pays their fair share. [applause] by the way, i believe the vast majority of wealthy americans and ceos are willing to do that if it helps the economy grow and get our fiscal house in order. i have also offered ideas to offer a tax code that stand as a moment to special interest in washington. by eliminating deductions we can lower one of the highest corporate tax rates in the world. it should not give an advantage to companies that can avoid the best connected lobbyists. they invest and create jobs right here in the united states of america. [applause] we can reduce this deficit, pay out our dead, and pay for this jobs plan in process. in order to do this, we have to decide what our priorities are. we have to ask ourselves what is the best way to grow the economy and create jobs? should we keep tax loopholes for all companies that should we use that money to give small own
right now warren buffett pays a lower tax rate than a secretary. it is an outrage he has asked us to fix. we need a tax code where everyone gets a fair shake and where everybody pays their fair share. [applause] by the way, i believe the vast majority of wealthy americans and ceos are willing to do that if it helps the economy grow and get our fiscal house in order. i have also offered ideas to offer a tax code that stand as a moment to special interest in washington. by eliminating deductions...
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Sep 9, 2011
09/11
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right now, warren buffett is in a lower tax bracket than a secretary. he has asked us to get this fixed. we need a tax code that will give e a fair shake, a fair share. [applause] >> by the way, i believe the vast majority of wealthy americans and ceos are willing to do just that if it helps our economy grow. i offer reforms that bring a tax reform that stands as eamon ument. eliminating the loopholes we can lower one of the highest tax rates in the world. it should give an advantage to companies that invest and create jobs right near in the united states of america. [applause] >> so we can reduce this deficit, pay down our debt and pay for this jobs plan in the process but in order to do this, we have to decide what our priorities are. we have to ask ourselves, what's the best way to grow the economy and create jobs? should we keep tax loopholes for all companies or use that money to give small business owners a tax credit when they hire new workers? we can't afford to do both. should we keep tax breaks for millionaires and billionaires or keep our kid
right now, warren buffett is in a lower tax bracket than a secretary. he has asked us to get this fixed. we need a tax code that will give e a fair shake, a fair share. [applause] >> by the way, i believe the vast majority of wealthy americans and ceos are willing to do just that if it helps our economy grow. i offer reforms that bring a tax reform that stands as eamon ument. eliminating the loopholes we can lower one of the highest tax rates in the world. it should give an advantage to...
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Sep 25, 2011
09/11
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warren buffett's secretary should not pay a higher tax rate than warren buffett. a teacher or a nurse or construction worker making $50,000 a year should not pay higher tax rates and someone making $50 million. that is just common sense. we are not doing this to punish success. this is the land of opportunity. i want you to go out and start a business, get rich, build something. our country is based on the belief that anybody can make it if they put in enough sweat and effort. that is wonderful, god bless you. but part of the american idea is also that once we have done well, we should pay our fair share. to make sure that those schools that we were learning in canteens the next generation, that those roads we benefit from, that they are not crumbling for the next bunch of folks that are coming behind us. to keep up the nation's that made our success possible, and most well treated most wealthy americans would agree with that. but republicans are already dusting off their old pocketbooks. that is class warfare, they said. in the next breath, they will complain tha
warren buffett's secretary should not pay a higher tax rate than warren buffett. a teacher or a nurse or construction worker making $50,000 a year should not pay higher tax rates and someone making $50 million. that is just common sense. we are not doing this to punish success. this is the land of opportunity. i want you to go out and start a business, get rich, build something. our country is based on the belief that anybody can make it if they put in enough sweat and effort. that is...
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Sep 30, 2011
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. >> warren buffett was on cnbc. it sounds like republicans are taking one piece of it and suggesting he came out against the buffett rule. when asked about how the president is paying for the jobs bill and changing deductions, he said he would appear the overall plan and decide what he does or does not like. if one of the president's economic gurus is not offering his support for the way the president wants to pay for the jobs bill -- >> u.s. distinguishing -- he was distinguishing and making sure the interviewer understood the act was not the same thing as the buffett rule. he wants to look more deeply into the various provisions in the jobs act. the overall principle that he supports has been established many times for him in a variety of forms. >> he said he was not sure he supports the mechanism the president wants to support the jobs bill. >> i think he said he was going to look at it. are you have any problem getting democrats to support it? >> we are open to other ways to pay for this that are fair and do not
. >> warren buffett was on cnbc. it sounds like republicans are taking one piece of it and suggesting he came out against the buffett rule. when asked about how the president is paying for the jobs bill and changing deductions, he said he would appear the overall plan and decide what he does or does not like. if one of the president's economic gurus is not offering his support for the way the president wants to pay for the jobs bill -- >> u.s. distinguishing -- he was distinguishing...
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Sep 21, 2011
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this date done better to the president had access to the white house like warren buffett. he lays down his money before obama and he did send to the pot and gives them money. everything that has obama as fingerprints on it, but what change in january 2009 was obama was inaugurated. do not let the democrats distract you from the problem. the problem of politics coming out of this white house and this is our money and we are fed up with it. guest: i do not know what people's motives are in their heart. but we have to follow the facts in this case. i said before that i was talking about jonathan silver, not jonathan swift. it is a matter of what all these people knew and what they were following. if the facts lead as in some direction that someone was withholding information purposefully or misleading someone, the facts will speak for themselves. there's political intrigue on all sides. and it makes things interesting for the media, but our job is to get to the bottom of this for taxpayers. host: vancouver, washington, the independent line. caller: a lot like to say thank you
this date done better to the president had access to the white house like warren buffett. he lays down his money before obama and he did send to the pot and gives them money. everything that has obama as fingerprints on it, but what change in january 2009 was obama was inaugurated. do not let the democrats distract you from the problem. the problem of politics coming out of this white house and this is our money and we are fed up with it. guest: i do not know what people's motives are in their...
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Sep 16, 2011
09/11
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warren buffett's effective tax rate is lower than my wife and i's. now, warren buffett's saying let the wealthy pay more income taxes, he's the only one i hear saying it. there's no way in the world this is going to happen. and it's nothing more than a smoke screen host: another mark from michigan. what do you think? caller: yes. i've been trying to press basically the reason why we have the tax system we have today is because of the supreme court. they have never accepted a non-burdensome tax. i was hoping to install a seven-year tax cycle allowing one year where everybody would not have to pay taxes one year meaning everybody who works will be able to get fikea the other system could raise the tax as high as they wanted or buy the politician people's vote. then they would be able to afford something and the people would be able to get a rebate from whatever they think they can spend. hopefully gold standard for the united states having gold 30% better than oil and hopefully getting gas down to 99 cents a gallon again, and maybe we can have gas wars
warren buffett's effective tax rate is lower than my wife and i's. now, warren buffett's saying let the wealthy pay more income taxes, he's the only one i hear saying it. there's no way in the world this is going to happen. and it's nothing more than a smoke screen host: another mark from michigan. what do you think? caller: yes. i've been trying to press basically the reason why we have the tax system we have today is because of the supreme court. they have never accepted a non-burdensome tax....
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Sep 12, 2011
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caller: i keep hearing about the secretary of warren buffett. i do taxes. i figure if the secretary has a standard deduction, she would have to have an income of 90,000 a year. that would equal his 17.4%. using the word secretary, which is 50,000 on average at best in michigan and using that as an example is very disingenuous. i would like to hear it stop. host: we have a comment on twitter. echoing a the sentiments of a caller a moment ago. caller: i think it is unfair as far as the taxes that the rich pay, which is really nothing. i do not know if anyone has ever watched, because my grandkids watched the sweet 16 parties. it is nothing for them to spend $100,000 for their kids parties and then on top of that really expensive cars. the rich do not fight wars. their children do not go to fight wars. they should pay extra, because we are making them safe and allowing them to have their free will and the expense of the lives. and they can appear -- paid $20,000 for a pair of shoes. it is unfair. that could be a salary for the middle class. we could live reall
caller: i keep hearing about the secretary of warren buffett. i do taxes. i figure if the secretary has a standard deduction, she would have to have an income of 90,000 a year. that would equal his 17.4%. using the word secretary, which is 50,000 on average at best in michigan and using that as an example is very disingenuous. i would like to hear it stop. host: we have a comment on twitter. echoing a the sentiments of a caller a moment ago. caller: i think it is unfair as far as the taxes that...
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Sep 28, 2011
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buffett is hosting? is it a scheduling conflict, or was the -- >> i'll have to take the -- what's that? >> surrogate event. >> it's a surrogate event. yes. >> this afternoon in the online q&a, the president said, as he has before, when he was asked about deporting people who would otherwise be covered by the dream act, he said he can't choose which laws on the books to enforce. but a couple of years ago with marijuana he did exactly that. this administration said in states that have medical marijuana laws, federal laws prohibiting marijuana use should not be enforced. so why does the president say he doesn't have that authority? >> i really don't even understand your question. i mean, the -- >> the question is about prosecuting -- >> obviously -- well, maybe you should -- >> you've got limited resources. >> i would address you to the department of justice for questions of prosecutorial discretion. i can't even say it, let alone explain it. so the -- i mean, the fact -- what the president said is absolute
buffett is hosting? is it a scheduling conflict, or was the -- >> i'll have to take the -- what's that? >> surrogate event. >> it's a surrogate event. yes. >> this afternoon in the online q&a, the president said, as he has before, when he was asked about deporting people who would otherwise be covered by the dream act, he said he can't choose which laws on the books to enforce. but a couple of years ago with marijuana he did exactly that. this administration said in...
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Sep 22, 2011
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why should we just say, all right, ultra rich like warren buffett, quit fighting not to pay the billions of dwhrures already owe in taxes, just write the check. the speaker pro tempore: the gentleman's time has ex-peered. mr. gohmert: thank you. i think of people will read the president's bill they'll find out we need to pass the american jobs act that's on file with the house. that's my bill. the speaker pro tempore: the chair recognizes the gentleman from california, mr. herger, for five minutes. mr. herger: madam speaker, the 3% withholding provision which will come into effect if congress does not act essentially forces businesses that have contracts with the government to forgo 3% of their payments as a down payment under tax bill -- on their tax bill this represents yet another burden on our nation's small businesses and job creators. the life blood of our economy. as a small businessman i know firsthand about the negative impact of burdensome taxes and cumbersome regulations. many small businesses that contract with the government operate on very slim profit margins so a 3% tax wo
why should we just say, all right, ultra rich like warren buffett, quit fighting not to pay the billions of dwhrures already owe in taxes, just write the check. the speaker pro tempore: the gentleman's time has ex-peered. mr. gohmert: thank you. i think of people will read the president's bill they'll find out we need to pass the american jobs act that's on file with the house. that's my bill. the speaker pro tempore: the chair recognizes the gentleman from california, mr. herger, for five...
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Sep 9, 2011
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they should get warren buffett and his friends to pay for it. open an account. they should be able to pay for it. it took three years for him to recognize that small business gets the job done, not government. guest: there is no bill. you're quite right. the devil is always in the details. we deceive the specifics, the legislative language -- we need to see the specifics. with respect to generating revenue, i think the very best way we can generate additional revenue is to put 14 million people back to work. the best way to rein in our deficit and for us to increase our economic activity is to reduce the number of people who are unemployed and underemployed. i am hopeful this plan will be a start of the effort to do that. host: did the white house reach out to house democrats prior to the speech? guest: not that i'm aware of. they may have reached out to the leadership. not to members of the rank-and- file. we were given the text of the speech when we got into the chamber last night. there was some additional detail that was distributed to our offices while the
they should get warren buffett and his friends to pay for it. open an account. they should be able to pay for it. it took three years for him to recognize that small business gets the job done, not government. guest: there is no bill. you're quite right. the devil is always in the details. we deceive the specifics, the legislative language -- we need to see the specifics. with respect to generating revenue, i think the very best way we can generate additional revenue is to put 14 million people...
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Sep 14, 2011
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buffett said it so very well, he pays a lower tax rate than does his secretary. he said, this is wrong. this is upside down and wrong and he's quite correct. but if we take a look at the manufacturing sector of america and we apply a couple of principles, that is we're going to buy american. and this has to do with our policies of all of these policies here. trade policies. we've been giving it away in these international trade deals on the taxes, just talked about that. the tax burden has shifted from the wealthy down to the middle class, further eroding the purchasing power and the status of the middle class. so much so that today's -- just yesterday the bureau of labor statistics came out of the report that the poverty level in america has reached the highest level in 52 years. that's the pushing down of the american middle class so that those at the bottom have been pushed out of the middle class into poverty. mr. cohen: one out of six adults , now this body of which i am extremely proud to be a member of, is not representative of america. because if it was o
buffett said it so very well, he pays a lower tax rate than does his secretary. he said, this is wrong. this is upside down and wrong and he's quite correct. but if we take a look at the manufacturing sector of america and we apply a couple of principles, that is we're going to buy american. and this has to do with our policies of all of these policies here. trade policies. we've been giving it away in these international trade deals on the taxes, just talked about that. the tax burden has...
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Sep 20, 2011
09/11
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warren buffett wrote a piece for the new york times. he is a good guy, the second richest man in the world. in his little office in omaha where they have 30 employees, they all volunteered to rate what rate of tax they pay. turned out the second richest man in the world had the lowest rate of tax than his receptionist. that is just disgraceful. another example. what is your name, young lady? i want to put you in the place of a real human being because i don't want to name them. allie makes $3.6 billion a year. that is $300 million a month. is that $10 million a day? allie makes $10 million a day seven days a week, all year long. $3.6 billion. the know what her tax rate is? she pays an income tax rate of 15%. this is a real person i'm describing now. why? because her income is described as carried interest. that is disgraceful that someone at the top of the food chain making the highest incomes in the world, running a hedge fund, pays a 15% rate and all your parents are paying 25%, 30%, 35% tax rate. that is disgraceful. let's get rid of
warren buffett wrote a piece for the new york times. he is a good guy, the second richest man in the world. in his little office in omaha where they have 30 employees, they all volunteered to rate what rate of tax they pay. turned out the second richest man in the world had the lowest rate of tax than his receptionist. that is just disgraceful. another example. what is your name, young lady? i want to put you in the place of a real human being because i don't want to name them. allie makes $3.6...
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Sep 19, 2011
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warren buffett and dick cheney and a couple other guys, the country is too important. we should have national interest. it is not about making money. i pay taxes. i just spent 15 grand. guest: the reason we have a large deficit is because the economy collapsed. we did not have the back in 2007 or 2008. that is really clear. it amazes me how much distortion there has been on both parties. president obama says he inherited a trillion dollar deficit -- he inherited that because the economy was collapsing. our health care costs are more than twice the average wealthy countries. we're paying more than twice as much per person. it is not any different if money is out of the door to pay health care. businesses, it is money out of their pocket. >> there's really nothing the government can do to bring back the manufacturing jobs because of what happened. because we have these new robotic computers, we can bruce -- we can produce the same number or more. if you're one of the guys are on the assembly line, that is not so good for you. there's not much the government can do to int
warren buffett and dick cheney and a couple other guys, the country is too important. we should have national interest. it is not about making money. i pay taxes. i just spent 15 grand. guest: the reason we have a large deficit is because the economy collapsed. we did not have the back in 2007 or 2008. that is really clear. it amazes me how much distortion there has been on both parties. president obama says he inherited a trillion dollar deficit -- he inherited that because the economy was...
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Sep 27, 2011
09/11
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rate than warren buffett. somebody who's making $50,000 a year as a teacher shouldn't be paying a higher effective tax rate than somebody like myself or jeff, who've been incredibly blessed -- i don't know what you make jeff, but i'm just guessing -- [laughter] who've been blessed by the incredible opportunities of this country. and i say that because whenever america has moved forward, it's because we've moved forward together. and we're going to have to make sure that we are laying the foundation for the success of future generations, and that means that each of us are doing our part to make sure that we're investing in our future. so, with that, thank you so much for the terrific venue. i look forward to a bunch of great questions, both live and through whatever other linkages that we've got here. [laughter] >> you've got it. so we're going to be going back and forth between folks in the audience members and some previously generated questions from the linkedin group. so we're going to start. our first ques
rate than warren buffett. somebody who's making $50,000 a year as a teacher shouldn't be paying a higher effective tax rate than somebody like myself or jeff, who've been incredibly blessed -- i don't know what you make jeff, but i'm just guessing -- [laughter] who've been blessed by the incredible opportunities of this country. and i say that because whenever america has moved forward, it's because we've moved forward together. and we're going to have to make sure that we are laying the...
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Sep 19, 2011
09/11
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warren buffett's secretary should not pay higher tax rate and warren buffett. there is no justification for it. it is wrong that in the united states of america, a teacher, a nurse, or construction worker returns $50,000 should pay higher tax rates than someone pulling in $50 million. anybody who's as we cannot change the tax code to correct that, anyone who assigns some -- who signs some pledge to protect every single tax loophole that as long as they live, they should be called out. they should have to defend that and fairness. explain why somebody making $50 million a year in the financial markets should be paying 15% on their taxes when a teacher making $50,000 a year is paying more than that. paying a higher rate. they ought to have to answer for that. if they are pledged to keep that kind of unfairness in place. they should remember, the only pledge that really matters is the pledge we take to uphold the constitution. we are already hearing the usual defenders of these loopholes saying this is class warfare. i reject the idea that asking hedge fund manage
warren buffett's secretary should not pay higher tax rate and warren buffett. there is no justification for it. it is wrong that in the united states of america, a teacher, a nurse, or construction worker returns $50,000 should pay higher tax rates than someone pulling in $50 million. anybody who's as we cannot change the tax code to correct that, anyone who assigns some -- who signs some pledge to protect every single tax loophole that as long as they live, they should be called out. they...
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Sep 26, 2011
09/11
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warren buffett's secretary should not be paying a lower tax rate than warren buffett. somebody who is making $50,000 a year and a teacher should not be paying a higher effective tax rate than somebody like myself or jeff who has been incredibly blessed -- i don't know what you make, but i am just guessing. who have been blessed by the incredible opportunities of this country. and i say that because whenever america has moved forward it is because we have moved forward together. and we are going to have to make sure that we are laying the foundation for the success of future generations and that means each of us is doing our part to make sure we are investing in our future. with that, thank you so much for the terrific venue. i look forward to a bunch of great questions, both live and through whatever other linkages we have here. >> you got it. we are going to be going back and forth between folks in the audience and some previously generated questions from the linkedin group. we will start our first question from linkedin member shall pinter -- chuck painter. >> i am f
warren buffett's secretary should not be paying a lower tax rate than warren buffett. somebody who is making $50,000 a year and a teacher should not be paying a higher effective tax rate than somebody like myself or jeff who has been incredibly blessed -- i don't know what you make, but i am just guessing. who have been blessed by the incredible opportunities of this country. and i say that because whenever america has moved forward it is because we have moved forward together. and we are going...
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Sep 28, 2011
09/11
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and then with with regards to your point about warren buffett. i think that, you know, because if and it's been a very luke aretive ack decision before and he does like to purchase companies with purchase power. host: mena, -- man mean, this quotes the association saying railroads will hire 15,000 conductors, engineers and yard workers this year. host: what about competition from trucks and trucks on the highway? guest: well, railroads definitely compete with trucks all the time and other forms of transportation like barges and the like, there are times where it's only economical and safe to ship by rail. on a case-by-case basis there's situations in which rail is the only option for some shippers. host: so for some, they have set their business up around the rail system? why is that? guest: exactly. that was an issue that taylor my story around dupont, the huge chemical producer noting they to i think because their rates had been lower in the past and they had expect expectations, they had sometimes ingesting lls of dollars you've called questio
and then with with regards to your point about warren buffett. i think that, you know, because if and it's been a very luke aretive ack decision before and he does like to purchase companies with purchase power. host: mena, -- man mean, this quotes the association saying railroads will hire 15,000 conductors, engineers and yard workers this year. host: what about competition from trucks and trucks on the highway? guest: well, railroads definitely compete with trucks all the time and other forms...
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Sep 13, 2011
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warren buffett has said the republicans have coddled the rich long enough in this country and it is time that they pay their fair share. it has been impossible to fight two wars and provide a tax cut for the super wealthy. the numbers do not add up. it does not pass the smell test. we have to look at the upper income. to raise it from the two injured $50,000 -- $250,000 level, fine. people say tax cuts and you hit those who create jobs. where are the jobs that they claim they are creating? where are the jobs? they have had this tax cut for 10 years. that should be on the table for this deficit cutting commission -- committee. host: representative nick rahall, thank you for stopping by. guest: good to be with you. host: we will look at a steady about vaccinations and plenty more time for your calls. some news from c-span radio. >> an update on the embassy in kabul. a spokesman says insurgents have fired rocket-propelled grenades and small arms at the building. the staff has been ordered to take cover. there are no casualties at this time the amount and the c personnel. at least one afghan
warren buffett has said the republicans have coddled the rich long enough in this country and it is time that they pay their fair share. it has been impossible to fight two wars and provide a tax cut for the super wealthy. the numbers do not add up. it does not pass the smell test. we have to look at the upper income. to raise it from the two injured $50,000 -- $250,000 level, fine. people say tax cuts and you hit those who create jobs. where are the jobs that they claim they are creating?...
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Sep 28, 2011
09/11
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and th with with regards to your point about warren buffett. i think that, you know, because if and it's been a very luke aretive ack decision before and he does like to purchase companies with purchase power. host: mena, -- man mean, this quotes the association saying railroads will hire 15,000 conductors, engineers and yard workers this year. host: what about competition from trucks and trucks on the highway? guest: well, railroads definitely compete with trucks all the time and other forms of transportation like barges and the like, there are times where it's onlyconomical and safe to ship by rail. on a case-by-case basis there's situations in which rail is the only option for some shippers. host: so for some, they have set their business up around the rail system? why is that? guest: exactly. that was an issue that taylor my story around dupont, the huge chemical producer noting they to i think because their rates had been lower in the past and they had expect expectations, they had sometimes ingesting lls of dollars you've called question
and th with with regards to your point about warren buffett. i think that, you know, because if and it's been a very luke aretive ack decision before and he does like to purchase companies with purchase power. host: mena, -- man mean, this quotes the association saying railroads will hire 15,000 conductors, engineers and yard workers this year. host: what about competition from trucks and trucks on the highway? guest: well, railroads definitely compete with trucks all the time and other forms...
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Sep 24, 2011
09/11
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warren buffett wrote a piece for the new york times. he is a good guy, the second richest man in the world. in his law office in omaha where they have 30 employees, they all volunteered to rate what rate of tax they pay. the second richest man in the world had the lowest rate of tax than his receptionist. that is just disgraceful. what is your name, young lady? allie makes $3.6 billion a year. that is $300 million a month. is that $10 million a day? allie makes $10 million a day seven days a week, all year long. the know what her tax rate is? she pays an income tax rate of 15%. why? because her income is described as carried interest. that is disgraceful that someone at the top of the food chain making the highest incomes in the world, running a hedge fund, pays a 15% rate and all your parents are paying 25%, 30%, 35% tax rate. that is disgraceful. i would be willing to get rid of the corporate income tax and replace it with a value added tax if necessary. general electric makes billions and pays zero. let's not pretend anymore. let's m
warren buffett wrote a piece for the new york times. he is a good guy, the second richest man in the world. in his law office in omaha where they have 30 employees, they all volunteered to rate what rate of tax they pay. the second richest man in the world had the lowest rate of tax than his receptionist. that is just disgraceful. what is your name, young lady? allie makes $3.6 billion a year. that is $300 million a month. is that $10 million a day? allie makes $10 million a day seven days a...
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Sep 23, 2011
09/11
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well, you don't want to listen to warren buffett on taxes and now you're thumbing your vote at bill gates. they issued a report yesterday, bill gates and a number of other technology leaders, and i quote from the report about energy and programs like what you're trying to cut, i quote, if the u.s. fails to invent new technologies and create new markets and new jobs that will drive the transformation and revitalization of the $5 trillion global energy industry -- i ask for an additional minute -- we will have lost an opportunity to lead in what is arguably the largest and most pervasive technology center -- sector in the world. however, if the u.s. successfully innovates and clean energy, our country stands to reap enormous benefits. then it goes on. unfortunately, the country has yet to embark on a clean energy innovation program commence rat with the scale of national priorities that are at stake. in fact, and i interpret here, this is what you're doing, rather than improve the energy's energy innovation program and invest in strategic national interests, the current political environmen
well, you don't want to listen to warren buffett on taxes and now you're thumbing your vote at bill gates. they issued a report yesterday, bill gates and a number of other technology leaders, and i quote from the report about energy and programs like what you're trying to cut, i quote, if the u.s. fails to invent new technologies and create new markets and new jobs that will drive the transformation and revitalization of the $5 trillion global energy industry -- i ask for an additional minute...
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Sep 10, 2011
09/11
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they should get warren buffett and his friends to pay for it. open an account. they should be able to pay for it. it took three years for him to recognize that small business gets the job done, not government. guest: there is no bill. you're quite right. the devil is always in the details. we deceive the specifics, the legislative language -- we need to see the specifics. with respect to generating revenue, i think the very best way we can generate additional revenue is to put 14 million people back to work. the best way to rein in our deficit and for us to increase our economic activity is to reduce the number of people who are unemployed and underemployed. i am hopeful this plan will be a start of the effort to do that. host: did the white house reach out to house democrats prior to the speech? guest: not that i'm aware of. they may have reached out to the leadership. not to members of the rank-and- file. we were given the text of the speech when we got into the chamber last night. there was some additional detail that was distributed to our offices while the
they should get warren buffett and his friends to pay for it. open an account. they should be able to pay for it. it took three years for him to recognize that small business gets the job done, not government. guest: there is no bill. you're quite right. the devil is always in the details. we deceive the specifics, the legislative language -- we need to see the specifics. with respect to generating revenue, i think the very best way we can generate additional revenue is to put 14 million people...